The influx of institutional money into the crypto market slowed last week and optimism waned.
Let us recall that the inflow recovered a week earlier and amounted to +176 million $. Now we are talking about only +30 million $. This is indicated by the#CoinSharesdata for August 10-16. The company's analysts named the latest macro data as the probable cause, which reduced the likelihood of the Fed rate cut in September by 0.5 percentage points. Let's see if this week will improve the situation.
#BTC has regained its No. 1 position in terms of inflows (it was displaced by#ETHa week earlier).
The situation is standard for crypto ETF issuers:#BlackRock(primarily),#Fidelityand#ArkInvestare the main buyers.#Grayscaleis the main seller. Moreover, they sold so much that they outbid all three buyers. The situation was again saved by the “Others” category. Who are these “others” who bought a total of $108 million - CoinShares again does not explain.
Other details on inflows/outflows for assets in general:
- Crypto products focused on#BTChave seen an influx of a meager $42 million.
- #ETH's inflow also dropped significantly, to +$4.2 million. While the week before it showed an inflow of more than $100 million and was #1.
- Crypto products focused on short#BTCcontinue to experience outflow, but it is not as impressive as the previous week - only $0.9 million against -$16.2 million. Weeks earlier, we recall, short funds had the following dynamics: +$1.8 million, +$0.3 million and -$1.9 million, -$8.6 million, +$0.5 million, -$4.2 million and -$1.2 million. It does not seem that institutional investors have any consensus on clear expectations. Perhaps the instrument is used primarily as a hedge.
- The outflow on#SOLhas resumed and it is significant, the largest in recent months: -$38.9 million. Previous weeks: +$4.5 million, -$2.8 million, -$2.7 million, +$9.6 million, +$4.4 million and +$16.3 million. You should be careful with the asset.
- But for the ninth (!) week in a row, institutional money has been going to Multi-asset (diversified altcoin portfolios), and the pace continues to be high, +$21.0 million. This is the second largest amount in all past weeks, and the previous week was also in this status, showing +$18.3 million. Previously: +$18.1 million, +$8.7 million, +$16.7 million, +$17.2 million, +$12.8 million, +$17.9 million and +$98.3 million. Institutions are betting on altcoins and waiting for the alt season, while the crowd is already burying not only them, but the entire crypto market.
Investments in other individual altcoins showed much less dynamics. Only one asset was bought:
-#XRPshowed +0.2 million $ (weeks earlier +0.7 million $, +0.4 million $, +0.5 million $, +0.5 million $, +1 million $ and +0.4 million $).
-#ADAdid not show any inflow (the week before it was +0.6 million $).
-#LTCshowed no inflow (weeks earlier -$0.1M, +$0.2M, +$0.6M, +$2.2M, +$1.2M and +$0.9M).
-#BNBhad no inflow (the week before there was an outflow of -$1.2 million).
There have been no inflows into #LINK,#TRXfor several weeks in a row.
Geographically, the leader in inflows is the USA, but they are small. Next come Brazil, Canada, Sweden. Outflows were shown by Switzerland (large outflow), Hong Kong, Germany.
